The Fund Grade · free · no account needed
What grade does FABZX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
Franklin Alternative Strategies Adv
#84 of 500 graded active funds · blend · mid segment peer group
The point · specialist footprint
FABZX puts less of its book behind proven specialists than 66% of graded funds.
Bottom 20%
● Bottom 40%
Middle
Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds with this little specialist backing trailed top-rung funds by about 3.8% per quarter and beat the S&P in only 22% of fund-quarters. If it also charges an active fee, the higher-graded alternatives deserve a look.
10,000+ funds tracked · the graded specialists among them drive every read
The grade scores this fund's specialist share, the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
FABZX vs the Honor Roll · share card ↗Conviction exposure
14.7%
of the book in specialist-converged names
Late-stage weight
27%
of the book in Crowded or Fading names
Active share
92.2%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book: top names by stage · as of 2026-10-20
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
FABZX earns an A grade and ranks 84 out of 500 graded funds, with specialists holding 14.7% of the book, which is meaningful backing. The fund is genuinely early in IREN, TMO, and Agilent, three positions where proven specialists are still building. Watch the fading cluster though, NEE, XEL, MTZ, and EW are all positions specialists are quietly exiting.
→ Monitor NEE, XEL, MTZ, and EW closely, as specialist money is leaving all four positions simultaneously.
→ The early conviction in IREN and TMO is where the fund's real forward signal sits, track whether those weights grow.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.